BUSINESS CORRESPONDENCE

Presentation Of Winter internship program on BUSINESS CORRESPONDENCE PRESENTED BY

RAKESH P. ODANALWAR GAJANAN S. MARGHADE SACHIN BEMBHARE

What is business correspondent?

Business correspondent are bank representative

They help villagers to open bank account.

They help villagers in banking transaction.(deposit

money,take money out of saving accounts, loans etc) The business correspondent carries a mobile device The villagers gives his thumb impression or electronic signature, and get the money. Business correspondent get commission from bank for every new accounts opened, every transaction made via them, every loan application processed etc.

History of business correspondent

Function of business correspondent

Create awareness about saving

Give advice to villagers.

Help the villagers to open bank accounts Collect loan application , forward them to bank

Give formal banking sarvice to poor people in urban

& rural areas.

Research methodology
Primary Data-

bank manager, gram panchayat,

Secondary Data http://mrunal.org

sampling
Sampling size Sampling region-kalmeshwar(fetri,bamhni,ubali,

yerla)

Tools-

Data design
Business correspondent-

Business correspondent client-

Busiess correspondent non client-

conclusion

suggestion

Financial inclusion involves

Give formal banking services to poor people in urban & rural areas. 2. Promote habit of money-savings, insurance, pension-investment among poor-people. 3. Help them get loans at reasonable rates from normal banks. So they dont become victims in the hands of local moneylender cum thugs.
1.

Three important initiatives taken by RBI for financial inclusion:

1969 Lead banking scheme (LBS). 2005
No frills account.

2006 Banking service reaches homes through business correspondents

Why Business Correspondents system?

No profit

Reluctant staff
Hardships faced by poors

What is Business correspondent?

Business correspondents are bank representatives.

They help villagers to open bank accounts.

They help villagers in banking transactions. (deposit

money, take money out of savings account, loans etc.) The Business Correspondent carries a mobile device. The villager gives his thumb impression or electronic signature, and get the money. Business Correspondents get commission from bank for every new account opened, every transection made via them, every loan-application processed etc.

Transaction Process
Transaction at the village carried out by BCA with Hand Held Terminal (HHT) Machine is used to capture Transactions HHT application supports all products Secured transaction With BCA card & Customer card Transactions are Recorded in customer & BCA card Banks security key embedded in SAMsmart chip component of HHT 16

Thank You